Top positive review
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One of the best money (and planning) books of the last decade
on 14 July 2016
Anyone whom wants to know where they are heading financially and the pitfalls to avoid should read this book. It is very easy to read and contains many 'nuggets' you'll not get from your bank, life insurance/fund salesperson or stockbroker.
Unlike many journalists Carl is a Certified Financial Planner so has a degree in financial planning - the folks writing in the personal money pages online and in newspapers are rarely (it at all) as well qualified. His back of the napkin sketches in the NY Times are the stuff of legend - pictures paint 1,000 words.
As a CFP and lifestyle financial planner myself the only thing I disagreed with is where Carl seems to suggest that you should not do (and pay for) a proper financial plan - one with personal lifetime cash-flows including catastrophe scenarios etc - as the plan goes out of date the minute you print it off. The whole point of a financial plan is that it acts as a blueprint and should be reviewed at least annually as things change - life is not a straight line. It's important to check back to make sure you are still on track.
I'd suggest you need a proper financial planner (harder to find than you might think) to challenge your assumptions and make sure you keep to your plan - even (especially when) the markets have just tanked 30%. DIY investors rarely look themselves in the eye and state 'this too will pass'. They are more likely to panic out.
This is a great read. Even if you are not that money orientated.